To amend the Internal Revenue Code of 1986 to treat amounts paid for private umbilical cord blood or umbilical cord tissue, or placental blood or placental tissue, banking services as medical care expenses.

Family Cord Blood Banking Act This bill amends the Internal Revenue Code to treat the cost of private umbilical cord blood or tissue, or placental blood or tissue, banking services as a medical care expense for purposes of the tax deduction for medical expenses.